TIP Trailer Services Reveals 19% Revenue Growth in Annual Report
MAR 9, 2018 - 6:08 am
TIP Trailer Services released its 2017 annual report. In his letter to stakeholders, Bob Fast, CEO, drew attention to strong underlying trading performance in growing markets, as well as to the business’s 50-year anniversary.
“We had another year of strong execution, growing revenue by 19%, at constant exchange rates, achieving our goal of €500m revenue ($614.96 million). We successfully leveraged our scale to improve our contribution and EBITDA margins by 3% and 5%, respectively, and grew our operating profit by 32%. We continue to retain and attract new customers while improving our operational delivery,” Fast said. “During the past half century we have been dedicated to making a positive impact on the customers we serve, the people in our teams, our trusted partners, the industry for which we care passionately about and the communities and environments in which we live. We are looking forward to another successful 50 years ahead of us.”
In his review on financial performance, Malachy Mc Enroe, CFO, said, “On the back of excellent trading results in 2017, we took advantage of favorable financing markets to further expand our liquidity while reducing cost and diversifying our funding. These actions position us well for strong growth in the coming years, protect our balance sheet and provide flexibility.”
Headquartered in the Netherlands, TIP Trailer Services is an equipment service provider specializing in trailer leasing, rental, maintenance and repair, as well as other value-added services.
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